Debt Management
Rebekah Eason
Holiday Cash for Students

By: Becky Eason, CFP®

The holidays are upon us and although 2020 isn’t a traditional year people are still getting into the holiday spirits. Gifts have become a huge part of the holidays, which we all know can add a lot of additional stress. This year there is the added stress of what is the best way to get gifts to loved ones? Shipping can be expensive and you risk packages getting delayed, lost, or broken so I wouldn’t be surprised to see more monetary gifts be given.


Holiday Cash for Students

Asking for a Friend - What is the difference between a Health Care Proxy and HIPAA?

July 17, 2023

Question:

What is the difference between a Health Care Proxy and HIPAA?

Answer:

  • A Health Care Proxy tells your medical team that someone else can make decisions about your care if you are not able to do so.

  • HIPAA stands for Health Insurance Portability and Accountability Act. This act mandates how your health information is protected and who it can be disclosed to.

So basically, one is about making decisions, and one is about getting your records information. We often see the two documents combined into one anymore, but not always.

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - I heard that my kids will have to start repaying their student loans this fall, do you know any of the details?

July 10, 2023

Question:

I heard that my kids will have to start repaying their student loans this fall, do you know any of the details?

Answer:

Here is what we know so far: Video: Important Update on Student Loan Repayment

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - What Issues Should I Consider When Creating My Estate Plan?

June 26, 2023

Question: I've been listening to your podcast about estate planning and while they have helpful, I don't know what issues I should consider when creating my estate plan, any suggestions?

Answer: Thank you for listening! We have "What Issues to Consider When Creating My Estate Plan" checklist on our new resources page, this may help get the juices flowing.

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - Why do I need an estate plan?

June 12, 2023

Question: Why do I need an estate plan?

Answer:

  • CONTROL Don’t let the wrong person make important decisions. You can make the important decisions now.

  • PEACE OF MIND When you die, your will goes through probate, and your assets become public record. A trust keeps your assets private.

  • PRIVACY Accidents happen all the time. Make sure you and your loved ones are protected.

Also, see our checklist: What Issues Should I Consider When Reviewing My Estate Planning Documents?

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - My daughter just graduated from college, what advice should I give her regarding her student loans?

May 22, 2023

Question:

My daughter just graduated from college, what advice should I give her regarding her student loans?

Answer:

First, Congratulations! Although she does have a grace period, the sooner she gets a plan together, the better! Here is a checklist of things she might want to consider: "What Issues Should I Consder When Paying My Student Loans?"

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - Should I sell my Restricted Stock Units?

May 15, 2023

Question: Last year I was awarded RSU (Restricted Stock Units) that vested this year, it looks like some of the shares were sold to cover taxes, but should I sell the rest or hold on to them?

Answer: I wish I could give you a yes or no answer to this question, but it really does depend. You might find this checklist helpful in making the right decision for you: "What Issues Should I Consider Regarding My Restricted Stock Units?"

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - Should I Consider Doing a Roth Conversion?

May 8, 2023

Question: I am considering a Roth Conversion because my accounts are still recovering from last years decline, are there things I should consider?

Answer: Everyone's situation is very different, so this is a hard one to answer in general terms. However, the attached flowchart might be helpful to you: "Should I Consider Doing A Roth Conversion?"

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - What's the difference between APR and APY?

May 1, 2023

Question: I feel like I should know this, but I don’t - what’s the difference between APR and APY?

Answer: Never “should” on yourself. We weren’t born to know this stuff!

  • APR = Annual Percentage Rate - this is the interest rate plus any other borrowing costs, meaning this is what you pay.

  • APY = Annual Percentage Yield - this is an earnings term, meaning the interest you earn on your investment.

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

Asking for a Friend - What's the difference between simple interest and compound interest?

April 24, 2023

Question: What’s the difference between simple interest and compound interest?

Answer: Great question!

The best way to explain is to give an example:

Let's say you put $10,000 in a CD at 5% per year

  • Simple Interest would give you $500 per year. You would get this same amount each year.

  • Compound Interest would give you the same amount the first year, but then the following year you would earn 5% on $10,500, so the interest would be $525, and the next year you would earn $551.25 ($11,025 * 5%), and so on.

Do your friends ask you financial questions?
Pass those questions on to us at AskRPG@rootedpg.com and we will feature them in our future newsletters.

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